Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Variational Omni+0.456%7-day average −0.112% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.729%−$73 · spread now +0.456%, 7d avg −0.112%

Together, before fees−0.728%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board−$73 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.568% dearer against Variational Omni than usual: you sell high and buy low (spread +0.456% now, against its 7-day average of −0.112%): +$57 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MELANIA	0.1077	0.0121	pay 0.0061% / 4h	2h 17m	$111K	$1K	—
Short	Hyperliquid MELANIA	0.1081	0.0100	get 0.0013% / 1h	17m 29s	$1.7M	$198K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee HyperliquidbpOrdersPrice spread, now +0.456%Rate

Funding earned: −$4.49
Price spread: +0.456% → −0.112%: $56.83
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $43.34
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 6 min ago; Hyperliquid: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 6 min ago	13.93 bp	doesn't fit	162.6 bp −$1,626	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	1.40 bp	16.0 bp −$16	doesn't fit	doesn't fit	doesn't fit

MELANIA on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_MELANIAUSD	−0.0951%	1h	0.1076	−0.025%	$25K	$3K	10x	as long as short
BloFin MELANIA-USDT	+0.0060%	4h	0.1076	−0.036%	$196K	$6K	75x	as long as short
Hyperliquid MELANIAshort	+0.0100%	1h	0.1081	+0.456%	$1.7M	$198K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1084	+0.667%	$3.0M	$3.0M	75x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1083	+0.567%	$421K	$67K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1083	+0.558%	$1.2M	$137K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1082	+0.502%	$388K	$838K	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1083	+0.586%	$967K	$204K	50x	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1078	+0.114%	$246K	—	3x	as long as short
Variational Omni MELANIAlong	+0.0121%	4h	0.1077	long leg	$111K	$1K	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MELANIAUSDT	+0.0446%	4h	0.1085	+0.735%	$1.5M	$645K	20x	as long as short
BingX MELANIA-USDT	+0.0478%	4h	0.1084	+0.688%	—	$1.5M	—	as long as short
Aster MELANIAUSDT	+0.0793%	4h	0.1081	+0.456%	$21K	$16K	5x	as long as short